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India remains fastest growing economy and there is no question of the country getting into recession: FM Nirmala Sitharaman


Finance Minister Nirmala Sitharaman said that Government has taken all caution with utmost responsibility to safeguard the country’s economy from any global developments. In the Lok Sabha, she replied to the discussion on price rise yesterday. Nirmala Sitharaman allayed fears of country falling into recession. She listed various measures taken by the government in the last two years, to safeguard the country’s economy from Covid pandemic while continue to implement welfare activities.

The Finance Minister said, there was no change in GST on pencil and rubber as the opposition accused. She also said, from time to time the Government has been taking steps to revise the customs duty on edible oil to keep prices stabilized, and steel and textile raw materials to keep the MSMEs running.

Nirmala Sitharaman also said IMF and World Bank have assessed that India is fastest growing economy in comparison to the world biggest economies. Quoting Bloomberg Survey, Finance Minister said India has zero probability of falling into recession.

During the discussion, Congress Floor Leader in Lok Sabha Adhir Ranjan Chowdhury asked the Government to come out the impact of inflation on nutritional intake in the country.

Earlier, initiating the debate, Congress MP Manish Tewari slammed demonetization and implementation of Goods and Service Tax (GST), which have contributed to the spiraling prices in the country. Listing the high rate of unemployment, and bad debts in the MSME sector, Mr Tewari said that only 40 crore people have jobs today.

Participating in the discussion, BJP MP Nishikant Dubey said it was UPA-issued oil bonds to benefit selective investors that have caused a huge burden on the government. However, the PM Modi-led government has taken social welfare measures for all sections of the society, despite the world having been suffering Covid and war Finance Minister Nirmala Sitharaman’s reply to the discussion on Price rise is underway in the Lok Sabha.


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